Estimation of simultaneous equation models with stochastic trend components

Article Abstract:

An analysis of estimation techniques for a single equation which is part of a simultaneous equation system is presented. The analysis assumes that the specified equation includes a stochastic trend component which provides allowance for the integration of other economic variables. These variables are conditionally difficult to measure. It is shown that the equation's estimators can be compared by applying asymptotic analysis and small sample simulations.

Research, Models, Estimation theory, Equations, Simultaneous, Simultaneous equations

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Pulse-Fishing and Stochastic Equilibrium in the Multicohort Fishery

Article Abstract:

An optimal harvesting policy is developed for a multicohort fishery faced with environmental uncertainty. Age, biomass, and interelation of the population are considered. Maximum profits are sought under competition. Selective harvesting under pulse fishing policy is preferable.

Fishery management

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A Stochastic Analysis of the Tree Paradigm

Article Abstract:

The century old tree paradigm is extended to provide a solution to the rotation problem using barrier strategy. Original decisions on the mean and variance are considered. The model developed is useful in multistage stopping problems.

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